tapping into other funding sources

10
Tapping Into Other Funding Sources A Presentation for NCDA’s 2013 Winter Conference Washington, DC January 30 – February 1, 2013

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Tapping Into Other Funding Sources. A Presentation for NCDA’s 2013 Winter Conference Washington, DC January 30 – February 1, 2013. Strategies: Who Gets Funded?. City or Community Development Agency applies directly for the funding - PowerPoint PPT Presentation

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Page 1: Tapping Into Other Funding Sources

Tapping Into Other Funding Sources

A Presentation for NCDA’s 2013 Winter Conference

Washington, DCJanuary 30 – February 1, 2013

Page 2: Tapping Into Other Funding Sources

Strategies: Who Gets Funded?

• City or Community Development Agency applies directly for the funding

• Steer funding to non-profit project or program sponsors carrying out priority projects

• Assisting non-profits to secure other resources to reduce dependence on CDBG

• Tapping in-kind resources such as colleges & universities

• Building capacity of non-profits and other partners

Page 3: Tapping Into Other Funding Sources

HUD Resources for City or CD Agency

• CDBG or HOME Program Income• Section 108 Loan Guarantee (interest rate

spread, can repay 10 – 20 yr. loan with repayments from 3rd party borrower, CDBG funds or City general revenue).

• Lead Hazard Control or Lead Hazard Reduction Demonstration grants

• Continuum of Care Homeless grants• Additional HOME and ESG funds from your state

Page 4: Tapping Into Other Funding Sources

Other Resources for City or CD Agency

• EPA Brownfields Assessment, Cleanup and Revolving Loan Funds

• City general fund (esp. for personnel)• Housing Trusts, Impact Fees, Inclusionary

Development (Boston’s Linkage, IDP cash out)• Surplus Property Fund (Boston’s Leading the

Way fund)• Municipal Housing Bonds

Page 5: Tapping Into Other Funding Sources

Resources for Non-Profit Project Sponsors

Steering funds to non-profit partners, especially for high projects and programs • HUD Section 202/811 (rental assistance only, no capital

grants).• HHS/OCS Community Economic Development Grants and

Healthy Food Financing Initiative• HUD Housing Counseling Grants (local HCAs can apply for

up to $210K, average grant is $45K. Must be certified.• US Treasury CDFI Fund and Healthy Food Financing

Initiative. Applicants must be certified

Page 6: Tapping Into Other Funding Sources

Resources for For-Profit Project Sponsors

• Low Income Housing Tax Credits• New Markets Tax Credits• Historic Preservation Tax Credits• SBA loans

Page 7: Tapping Into Other Funding Sources

More Resources for Project Sponsors

Federal Home Loan Bank through a participating member bank)• Affordable Housing Program (grants &

advances) See article in current issue of FHLB Results on “Funding Supportive Housing in Boston”

• Community Development Advances

Page 8: Tapping Into Other Funding Sources

Capacity-building

Main Streets Program• Main Streets Foundation• Corporate Buddies

Mayor’s Office of Intergovernmental Relations• Funding Update for partners• Political support for priority competitive grants

DND Policy Development & Research• Technical assistance with grants – maps, data, application

review

Page 9: Tapping Into Other Funding Sources

In-Kind Resources

Universities & Colleges• Boston Urban Mechanics interns• Kennedy School Policy Analysis Exercise on

reverse mortgages• Tufts University summer work-study student:

data and report on condo conversions• Suffolk University Law School fellowship: draft

state legislation on tax credits for rehab of foreclosed properties

Page 10: Tapping Into Other Funding Sources

For More Information:

Robert Gehret, Deputy DirectorPolicy Development & Research DivisionCity of Boston Dept of Neighborhood Development26 Court Street, 8th FloorBoston, MA 02131Phone: 617-635-0242E-mail: [email protected]